The Baoding, China-based photovoltaic products manufacturer reported net income of RMB 375.59 million or $58.11 million for the second quarter, higher than RMB 217.80 million in the prior-year quarter. Earnings per share and per ADS were RMB 2.34 or $0.36, up from RMB 1.41 last year.
Excluding items, adjusted net income for the quarter surged to RMB 354.03 million or $54.78 million or RMB 2.21 per share or $0.34 per share, from RMB 261.02 million or RMB 1.69 per share in the year-ago quarter.
Total net revenues for the quarter increased 62.9 percent to RMB 4.40 billion or $680.56 million from RMB 2.70 billion in the same quarter last year. Twenty Wall Street analysts had a consensus revenue estimate of $616.04 million for the quarter.
Yingli Green Energy Holding Co. Ltd (YGE) reported earnings results for the quarter ended June 2011. The company reported $0.33 per share when analysts were expecting earnings of $0.29. Earnings beat analyst estimates by 13.79%. Investors could expect the stock price to increase as results were better than expected.
Further analysis may need to be done to determine whether the upswing will come to effect. Guidance and revenue estimates must be taken into consideration. Shares of YGE fell by 6.57% or $-0.37/share to $5.26. In the past year, the shares have traded as low as $5.00 and as high as $14.29. On average, 4423530 shares of YGE exchange hands on a given day and today's volume is recorded at 7862333. For the latest updates PRESS CTR + D or visit Stock Market news Today
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